When the goal is to attract influencers and tour the “most expensive hotels in the world”, there is no limit to how lots of flashy things a hotel can cram into a single space.
A Las Vegas resort that normally charges around $200 a night has created a 19,000 square foot suite with 12 beds, 25 TVs, a basketball court and an on-call butler for $150,000. (It was made specifically to be featured on a popular YouTube show, but it’s still available for reservation for anyone with the funds and wallet to replicate the experience.)
But back in the world of statistically average incomes, demand is growing for a very particular kind of travel. According to Expedia (EXPE) – Get a free reportis annual travel industry trends report for the coming year, the demand for three-star hotels is up by more than 20% between 2021 and 2022.
This tendency stems not so much from a rejection of excessive extravagance, but rather from the state of the finances of the average person. Hotel prices have increased by 12% from 2021 overall and up to 50% in select destinations.
“More trips to three-star properties”
The survey revealed that nearly 60% of travelers care about “getting the right price” when booking vacations, while 23% value low prices above cleanliness and related health protocols. to the pandemic, benefits and other benefits or even the possibility of obtaining a refund in the event of travel disruptions.
In 2023, 40% of American travelers plan to stay in hotels rated between one and three stars. This does not mean that everyone stays in five-star hotels, but rather that some people can book homes on platforms like Airbnb. (ABNB) – Get a free report and Vrbo or stay with family to reduce expenses.
But for those who opt for hotels, no-frills places that are clean and central often win out over hotels with lots of amenities but an accompanying price tag — for many on a budget, the lowest price is always the best. priority while others with more money to spend always choose more frequent trips rather than just one extravagant one.
“Showing a shift in mindset from the post-pandemic bucket list mentality and moving towards a more spontaneous approach, a third of travelers would rather take more trips to three-star properties than splurge in a great luxury getaway,” Expedia said. in a report.
Here are some other travel trends for 2023
Looking at broader travel trends from data from companies like Expedia, Hotels.com and Vrbo, the report identified a number of other travel trends for 2023.
Cities like Edinburgh, Lisbon and Tokyo have become some of the most popular international destinations, while many are also booking trips based on locations they’ve seen in shows and movies.
The survey found that 68% considered booking a trip to a place after seeing it on their screens. That could include anything from small Spanish towns used to film HBO’s “House of the Dragon” to the Hawaiian islands featured in the first season of “White Lotus.”
American destinations that are gaining momentum are generally not the big cities, but quiet lakeside getaways. Nampa in Idaho and Greensboro in North Carolina saw Vrbo bookings increase by more than 30% last year.
“We are seeing an increase in travel to cultural capitals, a new wave of interest in wellness retreats and an increase in demand for outdoor destinations beyond beaches and mountains – not a new normal, but people are branching out to unexpected trends in what we’re calling the ‘unnormal,’ Expedia Brands President Jon Gieselman said in a statement.
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